Renaissance Services’ board of directors has invited all shareholders to attend its extraordinary general meeting (EGM) on Monday, 6 July.

The EGM will discuss and approve the scheme for the repurchase of 423,141,678 mandatory convertible bonds (MCBs) issued in 2012 with a total of OMR 43,160,451, subject to the availability of financing.

Additionally, the board will consider the issuance of perpetual cumulative capital certificates by Renaissance’s wholly owned overseas subsidiary, with a coupon to be determined at the time of issue based on market conditions to raise up to $200 million through conventional or Sukuk financing.